Don’t sell your used jewelry to just anyone. Find a trustworthy NBFCs, Jeweler or Pawn Shop that truly cares about you, your family and the feelings of those looking for affordable new or second hand jewellery. Start by asking friends and family. If none of those options works, start by searching Google for 5 star reviews or search “muthoot contact number”. Educate yourself on what to look for:
- Don’t sell on impulse:
Selling your jewelry can be a great way to earn extra income. But you need to ask yourself if it’s time for a change. Even if the value of gold is up, that doesn’t mean you should sell everything. Carefully evaluate each piece you are selling and decide if it has an emotional value that outweighs the money you will receive. Ideal pieces to sell are broken items, earrings that no longer pair because one was lost and outdated styles.
- Understand what you have:
Your gold jewelry is NOT 24 karat pure gold. Most gold jewelry manufactured in the United States is 10K, 14K or 18K gold that is composed of gold and other metal alloys. Because of this, we do not buy your gold jewelry unless you are 100% satisfied with the price we offer you. In order for us to give you a fair price for your precious metals, we need to weigh each coin individually and understand exactly what kind of metal it is made from; otherwise we would be overpaying for certain types of alloyed coins or underpaying for others. This method also helps us ensure that all of your precious metals have been professionally removed from the ring by a competent jeweler so that no harm comes to our production staff during testing.
- Get an appraisal:
Whether you are looking to sell or consign your item, it’s important to determine the value of your piece. Often art and antiques get tossed into a category called “collectible.” However, in reality there is no longer a tax break for collectibles anymore and so generally collectors must realize that all items that they purchase will be subject to capital gains taxes and if they want to sell them within 3 years that they will be taxed on their original purchase price.
- Shop around:
If you’re looking to sell gold for cash, the first thing you will have to do is assess your options. Different companies buy gold differently, so it is important that you know what kind of business you are dealing with. Some gold buyers will pay higher prices than others because they have a better reputation or can offer lower gold prices. You will also want to look into their return policy and see if their estimate is free or if there are any other costs associated with the sale.
- Be realistic on values:
Selling gold jewelry is one of the easiest ways to get cash for your old jewelry. Make sure you know what you can expect to get for it beforehand and avoid common pitfalls like paying too much, not checking the jeweler’s credentials, or waiting too long to sell it—all of which will cost you money.